中信证券：特朗普签署降低处方药价行政令 预计短期影响有限

Core Viewpoint - The executive order signed by Trump aims to lower prescription drug prices in the U.S. by requiring pharmaceutical companies to match the lowest prices in comparable developed countries, but the short-term impact on the industry is expected to be limited [1] Group 1: Executive Order Details - The executive order titled "Most Favored Nation Pricing for Prescription Drugs" was signed on May 12, 2025 [1] - It mandates that drug prices in the U.S. should align with the lowest prices in comparable developed nations [1] - The order also proposes to increase price transparency in the U.S. drug market and reduce the profit margins of middlemen, such as Pharmacy Benefit Managers (PBMs) [1] Group 2: Industry Impact - The implementation of the executive order is anticipated to face significant challenges, leading to a limited short-term impact on the pharmaceutical industry [1]